PBOC sets USD/ CNY central rate at 7.1703 (vs. estimate at 7.2888)

Chinese authorities will be nervously eyeing remarks like this:

• Trump says thinking in terms of 25% tariffs on Mexico and Canada

If he can shaft countries he has a free trade agreement with, that he negotiated, what will he do to China?

That 7.1703 rate is the strongest, for CNY (lowest for USD/CNY) since November 8 last year.

PBOC injects 256bn yuan via 7-day RR, sets rate at 1.5%

• 55bn yuan mature today

• net injection is 2021bn yuan

This article was written by Eamonn Sheridan at www.forexlive.com.



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